[Alpha Biz= Reporter Kim Sangjin] F&F is pursuing the expansion of its Discovery brand into China and Southeast Asia.
On the 17th, F&F announced through a disclosure that it has acquired exclusive licensing rights from Warner Brothers Consumer Products for the use of the Discovery trademark in clothing, accessories, and items in certain regions of China and Southeast Asia.
The licensed countries and regions include China, Japan, Taiwan, Hong Kong, Macau, Thailand, Vietnam, Singapore, the Philippines, Indonesia, and Malaysia.
To facilitate this, F&F has also signed a contract to acquire all business rights and assets of the operator conducting the Discovery license business in China and Southeast Asia.
The contract amount is approximately 52.39 billion won, and the contract period extends until the end of 2039. They have also secured preferential negotiation rights for an additional 15-year extension after that.
F&F plans to open the first Discovery store in Shanghai, China, by the end of this year.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
